USD/JPY breaking Tuesday's high

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Bali) - USD/JPYis building up on recent gains, supported by a firm Nikkei 225, up over 0.5%, with the risk on seen Tuesday reinforcing the bullish bias short term.



Jim Langlands, Founder at FXCharts, notes: "The 4h chart remains positive and if the dollar can make further headway further sellers will appear at 101.65 (daily cloud base/Tenkan) which lies ahead of the 200 DMA at 101.73. The dollar really needs to break above this level in order to stabilize, but if so, it could make further gains towards 102.00."



In terms of orders, Peter Fell, Analyst at FXBeat, notes: "Option and Japanese exporter offers are being touted between 101.70/80, some light stops being cited above 101.80, importer demand is seen between 101.40/50 and official type demand between 101.20/25."



You May Also Like

Related Forex Analysis
  1. Forex News

    Weekly Trading Forecast: How Far can the Dollar Go in 2014?

  2. Forex News

    Japanese Yen May Resume Recovery on Year-End Capital Flows

  3. Forex News

    US Dollar Targets Fresh Highs versus Euro, but What Could Change?

  4. Forex News

    USD/JPY rises to 1-week highs

  5. Forex News

    USD/JPY: heading to 121.85? - Scotiabank

Trading Center